St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-03-16
FINANCIAL.
New York.

NEW YORK, March 15.-Money on call easy
at to per cent, closed at 3@4. Prime
mercantile paper, $1,000. Sterling ex-
change unsettled and weak at $4.S3H for
sixty day bills, aud $4.S6a for demand. The
stock market was much duller to-day, but
with the exception OF 4 few minutes in the
early morning presented a firm front, and for
the most part the losses of yesterday were
generally recovered. There was very little
hammering OF stocks and considerable cover
ing of shorts was INDUCED in, but the chief
element i'll the Improvement was the buying
by the foreign houses. Other influences
favorable to higher prices were the decline in
sterling exchange rates and the vague rumors
of renewal of the negotiations in the Balti-
more Il Ohio matter. These rumors generally
were to the effect that Messrs Gould and
Sage were to become interested in the trans
action, and a meeting between Mr.. Sully and
the two gentlemen named, which lasted the
greater part of the day is believed to have
been held at the Office of MIR. Sage. In the
early morning Richmond & West Point broke
badly upon rumors of disagreement in the
board of directors, and the resignation of the
president was limited. These stories were
promptly denied, however, and smart re-
covery soon followed. The general market
showed little feature of interest, being dull,
but steady appreciation of values lasted
from the first half hour to the close Of BUSH
ness. The movement gained force toward
the close. No more was heard of the Hook
Ing fdlley SlOFleS clrcutdCcu yesterday, ana
the securities of that company recovered
portion of their losses. The opening this
morning was firm, first prices in a majority
OF stocks being from Is to IS per cent above
the final figures of last evening, while Hook
ing Valley went up q per cent. The hammer
ing by the bears, and the extraordinary
weakness in West Point, which
dropped ~ per cent, carried the gen.
eral list down, and the gains of the opening
were generally wiped out. A rally quickly
followed, however, and before the end of the
first hour the early losses were regained.
About that time the market became dull with
very slight fluctuations, though the changes
made were Invariably in the direction of
higher prices until near p. M, when the
market sagged slightly. The last hour saw
renewal of the upward movement, however,
and the close was moderately active and
strong at the highest prices of the day.
Final changes in the active list were invaria-
bly, advances, and Hooking Valley is up ~,
Louisville s. Nashville ~, Michigan Central
13s. Lake Shore l Is, Texas Pacific per cent.
Railroad bonds were dull, with considerable
irregularity, though the majority were firm.
Sales to-day aggregated $4,000. Hooking
Valley SIS rose 81 to 791a and the IS per
cent. to rs. Government bonds were dull and
rather heavy. State bonds we're dull and
steady to firm. The total sales of stocks to-
day were 223, 60l shares including:
Del. Lack g. w "a. 800 Louis. s. Nash. Is, S95
Erie. ........... 5,420 Reading. ....... SO, 800
Hooking Valley. $3.50 Union Pacific. $3.50
Kansas s. Texas. $500 West. Union. .2S, 945
Lake Shore. Ia, $40